by David Torrillo | Dec 23, 2020 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Consolidated Appropriations Act – 2021, was approved by the House and Senate late Dec. 21 but still must be signed by the President to become law. The legislation includes an extension of retirement-based disaster relief, CARES Act clarifications for money...
by David Torrillo | Dec 16, 2020 | Employee Benefit Plans, News and Press Releases, Policy Updates
In Notice 2020-85, the IRS specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans. These updated mortality improvement rates and static tables apply for purposes of calculating the funding target and...
by David Torrillo | Dec 8, 2020 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The IRS has released final regulations on the rollover period for a qualified plan loan offset amount. Previously, the IRS had issued proposed regulations related to the extended rollover period for a qualified plan loan offset amount. Plan sponsors and administrators...
by David Torrillo | Oct 27, 2020 | Employee Benefit Plans, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021 in Notice 2020-79. Key employee contribution limits remain unchanged The limit on contributions by...
by David Torrillo | Aug 19, 2020 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The IRS has issued proposed regulations related to the extended rollover period for a qualified plan loan offset amount. The details of the proposed regulations, as reported by Checkpoint of Thomson Reuters, is detailed below. Plan sponsors and administrators should...
by David Torrillo | Jun 4, 2020 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
In response to the unprecedented public health emergency caused by the Coronavirus Disease 2019 (COVID-19) pandemic, and the related social distancing that has been implemented, this notice provides temporary relief from the physical presence requirement in Treasury...
